Lenders must provide Fannie Mae with all Housing Goals specific data items for every loan we purchase so that we can measure our success in meeting our regulatory Housing Goals. Our regulator uses this information – about the borrower(s) (race, ethnicity, gender, age, income, first-time homebuyer status, etc.) and the loan (mortgage note date, APR spread, loan purpose, loan type, etc.) – to determine if we are satisfying its requirements to, among other things, provide affordable housing to low-income borrowers and those living in low-income areas.
Submitting Housing Goals Data
Required borrower and housing goals data is collected upfront through the Loan Delivery application.
The Housing Goals Data Field and Edit Definitions document provides definitions of each field, and associated edit messages.
Housing Goals Data Reports
Lenders that fail to provide Fannie Mae with the required Housing Goals data or that submit faulty data receive the Housing Goals Data Reports, including the:
Collectively, these reports show missing or invalid Housing Goals data for previous deliveries year-to-date. They are sent via email by the fifth (5th) business day of the month. Lenders are responsible for submitting missing or corrected data by 5:00 p.m. Eastern Time on the last business day of the month using the Additional Data Elements (ADE) application.
Requesting a Waiver, Deferral, or Override
If you are unable to provide specific Housing Goals data for particular loans, commitments, or MBS contracts; you need additional time to gather specific housing goals data; or if the data you provided is accurate, but fails a compliance edit, please request a waiver, deferral, or override.
A Waiver is used to request Fannie Mae's approval to be excused from submitting the specified Housing Goals data fields for certain loans, contracts, or master contracts.
A Deferral is used to request an extension to submit the specified Housing Goals data fields for certain loans, contracts, or master contracts.
An Override is used to request Fannie Mae's approval to turn off a field edit when the data submitted in a specific loan field is correct, but does not pass the logical edits in place, or when a field must be blanked-out to delete the data that should not have been submitted. Requests submitted earlier in the month have an increased chance of receiving feedback that will allow the override request to be resubmitted and processed in the upcoming production cycle.
Requests should be submitted to SF- Data Requests as soon as possible, but no later than five (5) business days before the end of the month. Each request must include a detailed reason why the data is incorrect, not available, or should be accepted as delivered.